Grant Thornton’s Comparison between U.S. GAAP and IFRS® Standards is designed to help financial statement preparers grasp some of the major similarities and differences between IFRS and U.S. GAAP. This publication places a greater emphasis on the recognition, measurement, and presentation guidance provided by the FASB and IASB, and less emphasis on the disclosure requirements. It covers only those differences in guidance that we believe practitioners generally encounter in practice.
This update of the comparison guide includes standards issued as of December 31, 2023 that are effective as of that date. For U.S. GAAP, this guide has used the effective date for standards for public business entities that are SEC filers. This publication does not include accounting alternatives for private companies.
Download our comparison guide in an reader-friendly tabular format.
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The content in this publication is based on information available as of December 31, 2023. We may update this publication for evolving views as we continue to monitor developments. For the latest version, please visit grantthornton.com.
Portions of FASB Accounting Standards Codification® material included in this work are copyrighted by the Financial Accounting Foundation, 401 Merritt 7, Norwalk, CT 06856, and are reproduced with permission.
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